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Walters v. State Farm Lloyds

Court: ED Tx  02/17/2025  Borrower Lacks Insurable Interest Where Security Instrument Assigned Insurance Proceeds to Lender Upon Foreclosure

A court of the Eastern District of Texas adopted a magistrate's recommendation to grant an insurer's motion for summary judgment in a homeowner's property damage dispute, finding that the security instrument executed by the named insured assigned all rights to any insurance proceeds upon the foreclosure sale of the insured property.

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